Bitcoin (BTC), the main cryptocurrency, which hit its newest all-time excessive of $108,824 simply final month in January, is perhaps gearing as much as smash that file prior to anybody anticipated. And no, this isn’t simply one other wild guess or hype-driven prediction. It’s rooted in Bitcoin’s personal value historical past, which has a humorous approach of repeating itself whenever you least count on it.
Right here’s the factor: If you happen to take a look at the numbers, Bitcoin has a behavior of happening a tear in the course of the spring and early summer season months. Knowledge from CryptoRank reveals that, on common, BTC has delivered returns of +11.8% in March, +34.7% in April and +20% in Might.
Even June and July, usually seen as slower months, have traditionally added +7.91% and +8.26%, respectively. Positive, median returns are a bit extra modest, averaging round 4.674% over the following 5 months, however even that implements ball on the bull facet of the court docket.
Proper now, Bitcoin is buying and selling at round $96,000, which suggests it’s obtained some floor to cowl earlier than it might set a brand new all-time excessive. But when historical past is any information — and let’s be sincere, in crypto, it’s one of many few guides now we have — there’s an actual probability it might occur.
Suppose again to March 2024, April 2020, or Might 2019. These have been months when Bitcoin didn’t simply inch ahead, it leaped. And if the celebrities align once more, we might be taking a look at an analogous situation enjoying out within the coming months.
In fact, predicting something in crypto is like attempting to catch lightning in a bottle. The market is simply too wild, too unpredictable. However with 14 years of value historical past, Bitcoin has given us sufficient knowledge to at the very least make educated guesses.
It’s not a crystal ball, however it’s one thing.
